“The answer is the process,” McCullough explains in this clip from The Macro Show. “The catalyst for something going down is that it’s going down. The answer is really simple, but it’s hard to find.”
It’s especially challenging for bullish Mainstream Media “analysts” who have their eyes trained on signs of a year-end "Santa Claus rally." Meanwhile, those who follow the data and McCullough’s Risk Range Signals will be first to know when the cycle turns against Tech.
“Nvidia (NVDA) went down for the first time from its lower highs yesterday,” McCullough adds. “We’ll be the ones to notice when Nvidia’s at the top end of the range. We’ll be the ones to notice next week when Nvidia has to report reality (in Tuesday’s earnings report). That better be good, by the way. If you’re looking for something that’s a catalyst for anti-Santa Claus, give me something on Nvidia that isn’t euphoric.”
Watch the full clip above.